Trackwise Designs Share Discussion Threads

[ifaze] 22/8/2022 19:03

Don't think majority of shareholders would be interested in being "taken out"!

[shieldbug] 22/8/2022 12:22

As for TWD being "taken out" - its easy to say and I read this constantly on ADVFN boards - whose the buyer? The era of cheap money is disappearing fast.

Will Philip Johnson sell? Will other investors sell?

[shieldbug] 22/8/2022 12:10

My reading of what has happened at Arrival is that they diversified their attention into a lot of areas that created great narratives aimed at getting investors excited with the aim of raising more money. The market has changed and there is no prospect of raising more money. So they are doing what they should have done the whole time and focused on producing vans. Consequently they have wasted a lot of resources showing off their cleverness and ambition. 20 vans is disappointing but at least it is realistic. I first invested in TWD before the pandemic and before the Arrival news. I sincerely hope and expect there is more to TWD than the Arrival order.

[rivaldo] 12/8/2022 10:05

Not a holder, but a long-time watcher. TWD was - and is - extremely promising, and I liked the management having met them, but it was overvalued imo for a long time and was then unfortunately stymied by the pandemic and everything else recently.

I note Arrival's bad news overnight as per jimbo's post above, but most importantly for TWD they've slashed their production target for electric vans for this year to just 20 (from 400). Surely not good news?

[jimbo123elf] 11/8/2022 23:00

Car crash earnings report from Arrival

[shieldbug] 08/8/2022 17:29

"A business strategy update will be provided on Arrival’s second quarter earnings call on 11th August 2022." That should be interesting.

[shieldbug] 08/8/2022 17:28

Absolutely it is good news. Stories about Arrival developing self driving tech etc was troubling. Let's see some vans completed in Q3 and revenue flowing through to suppliers like Trackwise.

[bagpuss67] 05/8/2022 08:02

Thanks jojaken

[jojaken] 05/8/2022 07:39

On balance, good news.

All Arrival's "electric vans and buses - as well as other commercial vehicles are based around a common core High Voltage Battery Module (HVBM) into which Trackwise is providing two key components, a power flex - connecting all the cells for primary power collection and a balancing flex, part of the essential battery management system."

Arrival has long needed to focus resources so as to get production volumes up. Arrival will have to compensate for the lost bus production, but van production should be higher. So could be a double win for Trackwise. Focusing everything on vans, should finally get those 20,000 vans to UPS, and revenues flowing here too.

[bagpuss67] 05/8/2022 07:18

From today's FT
UK electric vehicle start-up Arrival is putting its bus and car projects on hold as it seeks to slash costs by a third and focus on production of its debut van to generate revenues, just over a year after it went public on Wall Street.

[ifaze] 29/7/2022 14:50

Presentation this morning was worth listening to. Investor Meet Company. Apparently recording will be available. Bough a few speculative more whilst I was listening - as it seems did other investors looking at the trades.

[bloomberg2] 28/7/2022 17:03

There manufacturing facility looks a bit small! To be a world leader

[pinkfoot2] 28/7/2022 16:29

Greed is an ugly word-I suspect the strategy didn’t include much of a buffer and was avoiding dilution.But those decisions have cost the market cap a huge amount.

They need to demonstrate decisive action and fast-the solutions put forward looked like a Rishi U turn.The auditors will confirm but this company is now in casualty mode

[74tom] 28/7/2022 15:23

Glad you've finally seen the light amt, the old FD has utterly screwed TWD and this is uninvestable barring materially positive news flow. Post the Arrival deal an ambitious and competent company with a market cap of ~£45m (£2 a share) would have raised ~£25m in order to execute a 3 year scale up plan. I'll never understand what on earth they were doing raising the bare minimum at a 45% discount. To make it even worse we were at the height of a decade long bull market in November 2020, Arrival listed and saw their shares leap 300% in a month... incompetent doesn't come close here.

[ny boy] 28/7/2022 14:34

I was lucky to get out at 225p after a nice run up from sub 100p during the first pandemic year. Took them off my list to follow until I cam across them, shame was an interesting looking company, sometimes best to be happy with a x2 return. Might have a flutter once the dust settles just in case someone takes them out whilst they are languishing at sub 40p levels. Certainly a missed opportunity they didn’t raise at 200p +

[slicethepie] 28/7/2022 12:38

Edit uninvestable

[slicethepie] 28/7/2022 12:38

Still investable with the current ceo, whilst glad the hapless fd is gone ( can't believe he is chair of Ensilica). Think this needs a proper ceo as opposed to an inventor.

[pinkfoot2] 28/7/2022 12:20

Dithering got them into this mess-they should grasp the nettle and sort it.Suggesting a range of offloads or sale and leasebacks isn’t good enough for me.

[mdchand] 28/7/2022 10:12

I might be glass half full, but I wonder if they are delaying any cash raise yet as they are waiting to see if they win any of the following contacts. Clearly the market is going to be a lot more supportive with any future fund raise if they can bag any of these contracts.

-- OEM A - Lifetime volume 30M pcs / SoP 2024 5 years - Tier 1
-- OEM B - Lifetime volume 3M pcs / SoP 2024 4 years - Tier 2
-- OEM C - Lifetime volume 2M pcs / SoP 2025 9 years - Tier 2
-- OEM D - Lifetime volume 1M pcs / SoP 2026 5 years - Tier 2
-- OEM E - Lifetime volume 1M pcs / SoP 2022 3 years - Tier 3

However, ST very disappointed they were not able to issue any large scale wins in the Aerospace / medical area yet but these were always going to be long lead issues.

No point selling as I can see an American VC picking these up. But if they can pull off a decent contact win coupled with a decent fund raise these could re-rate back to £3.

[pinkfoot2] 28/7/2022 09:09

I’ve read the FDs report-a book of excuses and effectively ran into the ground by timidity and over optimism-very poor.

They need a cash raise and should get on with it rather than the usual ifs and buts

[pinkfoot2] 28/7/2022 08:54

Basically their balance sheet is in a poor state and they need cash.Not pretty.

As someone else said, they had a great opportunity to raise money at much higher levels.I put this mistake down to the ex FD.It’s cost a huge amount of shareholder value.

Another raise is coming in my opinion

[amt] 28/7/2022 08:21

They missed a great opportunity when the share price was 3 quid or so to raise sufficient cash. Instead they didn't give exiting shareholders a good enough opportunity to increase holdings.

[bagpuss67] 28/7/2022 07:33

Think it means that the account will be prepared on a going concern basis and not modified. But unfortunately they will include a going concern emphasis of matter. I guess because its not clear to the auditors they have enough cash to last 12 months (or more)

[jojaken] 28/7/2022 07:33

>columbarius: A "Going Concern Review" is included in the report if you read down. Not particularly nice reading though. I'd particularly note the following:

In these circumstances the Group would face a funding shortfall of GBP6.8M. This could be mitigated by actions such as a sale-and-leaseback of the facility at Stonehouse, further asset-backed funding, a sale of Stevenage Circuits Limited or further equity raising.

On the basis of the Base Case assumptions noted above, most notably that the Group can raise the further GBP6.3m of facilities and that the Group retains the improved trading terms from its nickel foil supplier, the Base Case forecast shows that the Group will be able to continue as a going concern for the next twelve months.

Also further on,

The Group's bankers maintain the facilities that they have put in place and approved by them in June 2022;
(*subject to* )
-- further asset-based financing of GBP4.4M is completed no later than 31 December 2022; and
-- a trade finance facility of GBP1.9M is completed no later than 30 September 2022.